Residential Property Costs

Our costs and timescales are dependent upon the price of the property and complexity of the transaction but in most cases, we are able to provide you with a fixed fee for the work to be carried out, before we proceed.

If we are unable to offer a fixed fee, we will provide you with our hourly rates, together with an estimate of the time it will take to complete the matter, in our client care letter.

All our fixed fee costs are plus VAT and disbursements.

Disbursement are costs incurred during the process of the matter, which we pay on your behalf to third parties, i.e. Search fees and Land Registry fees.

The below estimates are for guidance purposes only, as each transaction varies.

Purchasing a Freehold or Residential Leasehold Property

Conveyancers fees and disbursements

Our fees cover all of the work required to complete the purchase of your property, including dealing with your mainstream mortgage, dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to purchase is in Wales.

Our fixed fees range from £695 plus VAT to 0.2% of the purchase price plus VAT, depending on the price of the property you are buying (please see table below).

Please note all our fees are based on your matter being a standard transaction which proceeds in a timely matter; and that no unforeseen matters arise, including but not limited to a title defect or the preparation of additional or unforeseen documents; and where the property being purchased is leasehold, that it involves the assignment of an existing lease and is not the grant of a new lease or one that involves a lease extension.

Fee Scale

Our fees are based on the purchase price of the property:

Property price up to £250,000, our fee is £695 plus VAT of £139
Property price £250,000 to £299,999, our fee is £745 plus VAT of £149
Property price £300,000 to £399,999, our fee is £845 plus VAT of £169
Property price £400,000 to £499,999, our fee is £945 plus VAT of £189
Property price £500,000 and over, our fee is 0.2% of the property price plus VAT

Additional Fees

Leasehold transactions: £200 plus VAT of £40
Any matter where we are dealing with a management company: £200 plus VAT of £40
Restriction to be entered on the title of the property: £200 plus VAT of £40 and disbursements
Declaration of Trust: £200 plus VAT of £40
Transfer of Equity where there is no mortgage: £350 plus VAT of £70 and disbursements
Transfer of Equity where there is an existing mortgage: £400 plus VAT of £80 and disbursements
Transfer of Equity with a new mortgage: £450 plus VAT of £90 and disbursements
Dealing with a Help to Buy ISA or Mortgage Applications: £50 plus VAT of £10
Help to Buy Redemption when connected to a sale £50 plus VAT of £10

Disbursements

The fees involved are usually:

  • HM Land Registry fees range between £20 and £1105. These will depend upon the value of the property and whether it is registered at the Land Registry or not.
  • Search Fees for searches about the property such as local authority searches, drainage etc are generally in the region of £300 but we will give you an accurate figure on request of a quotation.
  • Electronic Identity Search Fees - £15 (inclusive of VAT) per person (if based in UK).

If you are purchasing a Leasehold Property there are likely to be additional disbursements however, the amounts vary and those specified below are for indicative purposes only.

  • Notice of Transfer fee. Generally, between £50 - £250.
  • Notice of Charge fee (if the property is to be mortgaged). Generally, between £50 - £250.
  • Deed of Covenant fee, this fee is set by the management company or Landlord for the property. Often it is between £50 - £250.
  • Certificate of Compliance fee, this fee is set by the management company or the Landlord for the property and is generally between £50 - £100.
  • Fees relating to the transfer of membership in any management company, generally in the region of £100.

The above fees vary from property to property and can on occasion, be significantly more. An accurate figure can be given once we have sight of the specific documents. You should also be aware that ground rent and service charges are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as we receive this information.

Please note: if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 16-24 weeks. In such a situation, additional charges would apply, such as the landlord’s solicitors’ fees.

Stamp Duty Land Tax

This depends on the purchase price of your property and whether you have any other property interests. You can calculate the amount you need to pay by using the HMRC website https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro or, if the property is located in Wales, by using the Welsh Revenue Authority’s website https://gov.wales/land-transaction-tax-calculator .  Stamp Duty Land Tax legislation can be complex as various reliefs or exemptions could apply and we therefore strongly recommend that you seek advice from a suitably qualified tax adviser.

Timescale

How long it will take from your offer being accepted until you can move into your house will depend on a number of factors, such as the length of the conveyancing chain and whether you are having a mortgage. The average process usually takes between 8-12 weeks but this can vary.

Selling a Freehold or Leasehold Residential Property

Our fees (plus VAT) cover all of the work required to complete the sale of your property, including dealing with discharge of your mainstream mortgage.

Our fixed fees range from £695 plus VAT to 0.2% of the sale price plus VAT and disbursements, please see our fee scale below. Please note all our fees are based on your matter being a standard transaction which proceeds in a timely matter; and that no unforeseen matters arise, including but not limited to a title defect or the preparation of additional or unforeseen documents; and where the property being sold is leasehold, that it involves the assignment of an existing lease and is not the grant of a new lease or involves a lease extension.

Fee Scale

Our fees are based on the sale price of the property:

Property price up to £250,000, our fee is £695 plus VAT of £139
Property price £250,000 to £299,999, our fee is £745 plus VAT of £149
Property price £300,000 to £399,999, our fee is £845 plus VAT of £169
Property price £400,000 to £499,999, our fee is £945 plus VAT of £189
Property price £500,000 and over, our fee is 0.2% of the property price plus VAT

Disbursements

Disbursements applicable on a sale will be Land Registry Fees of £6 plus £3 per document required from the Land Registry, in addition to your registered title and plan. If you have a mortgage to be discharged there will be a further money transfer fee of £36. Please also note that mortgage providers may charge a redemption charge or an administration fee to discharge your mortgage.

If you are selling a Leasehold Residential Property, there is likely to be a fee for obtaining a leasehold sale/management pack: generally, between £100 - £500 per pack required.

Electronic Identity Search Fees - £15 (inclusive of VAT) per person (if based in UK)

Timescale

The length of time required to complete the transaction will depend on a number of factors such as the length of the chain and whether or not your buyer is having a mortgage. The average process usually takes between 8-12 weeks but this can vary.

Remortgages

Our fees cover all of the work required to complete the remortgage of your home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to purchase is in Wales.

Fee Scale

Legal Fee: £400 plus VAT of £80
Electronic money transfer fee: £36

Disbursements

  • HM Land Registry fee: Generally between £6 to £12.
  • HM Land Registry registration fee: Average £20.
  • Search Fees: Approximately £300 - please note that some search fees are subject to VAT.
  • Search Insurance (accepted by some lenders as an alternative to carrying out searches): Approximately £25.
  • Electronic money transfer fee: £36.
  • Electronic Identity Search Fees - £15 (inclusive of VAT) per person (if based in UK).

For more information, please contact Stephen Thornton; James Hand; Adam Biggs, Emily Parker or David Lucas